K.C. Soll . Blog

Palisades Riviera real estate, Sullivan Canyon real estate, recent sale activity

8 October 2009

Palisades Riviera and Sullivan Canyon – Listing and Sales Activity (since 09/05/2009)

 

 

Palisades Riviera, Pacific Palisades, Ca 90272

 

Active Listings, In Escrow and Sold (as of 9/5/2009):

 

This year has been an exceptional year in the Palisades Riviera, given the economic melt-down in the Fall of 2008.  In a recent blog-post, I listed the sales volume and price ranges (YTD) in the Palisades Riviera.  I derive my statistics mainly from the MLS.  However, a monthly update from Equity Title company, discloses property transfers that have gone *under the radar.*  In 2009, two properties have transferred privately in the Palisades Riviera.  Both properties sold in excess of $16Mil.

 

An overview:  Area-wide (including Beverly Hills Post Office, Beverly Hills, Bel-Air – Holmby Hills, Westwood, Brentwood, Santa Monica and Pacific Palisades) there have been 34 sales (+$4Mil), since July 5, 2009.    Of those, there were 4 in the Palisades Riviera.   Since September 5, 2009, there have been none.   However, the adjacent area of Sullivan Canyon (equestrian community) has had two sales in the last month, and has two properties +$4Mil in escrow.   These two sales are the first since January 1, 2009, in this unique area.    The $9Mil+ sales price of a property on Melhill Way in Sullivan Canyon, leads me to suspect that we’re going to see development on the large parcels sold and in escrow.  A property on Old Ranch Rd. is set on 8.5 acres.  It just sold for $6,250,000.  In my opinion, this was possibly the best buy in the whole area, in over a year.

 

Please call or send me an email if you have questions about property values in the Westside of Los Angeles.

 
 
K.C. Soll
Sotheby's International Realty
310.454.1525

 

 
 
 
 
 
 
Pacific Palisades Real Estate, Pacific Palisades Homes for sale, Palisades Riviera real estate, Brentwood real estate, Brentwood homes for sale. Santa Monica real estate, Rustic Canyon real estate